Medicare Supplement Plan B is just one of the ten different supplementation plans available to Medicare beneficiaries and differs from the regular Medicare B plan, which is not a supplemental plan. These insurance plans are completely different. The original Medicare Plan B is the medical part of your coverage and the Supplemental Guide to Plan B to fill gaps. You can get Medicare Part B Supplement Plans if you have original Medicare Part A and Medicare Part B coverage.
Medicare Supplement Plan B Benefits and Coverage
Plan B Additional coverage is best for beneficiaries who:
- Generally healthy They do not require regular trips to the hospital
- You do not need health care in the near future
- If you have medical conditions that require regular medical attention,
you might consider a supplementary plan that may help cover the future or expenses of unforeseen doctors. Of the 10 different Medicare supplement plans; Plan B has some of the least offered services.
Read More: Costs of Medigap policies
When to Buy Medicare Supplement Plan B Insurance
Eligibility for a Medicare Supplement plan usually requires a person to have traditional Medicare coverage. The best time to purchase your policy is during the OEP (Open Enrollment Period). Medigap’s OEP data starts on the first day of the month when you turn 65 or when you are older. You must also be enrolled in Medicare Part B.
You have 6 months to find your insurance company, find out what your monthly premiums are, and then register.
This is the period of time that insurance companies cannot refuse to sell a person a policy for pre-existing medical conditions or charge additional fees for health problems that a person may have when joining the plan. If you apply after 6 months, insurance companies might refuse your request for coverage or request more information based on your existing medical condition or medical history.
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Medicare Supplemental Plan B Regulations & Policy
To sell these plans, insurance companies must follow the Medicare Supplement regulations and insurance policy set by each state. This means that depending on the state in which you live a Medicare Supplement B plan may not be available.